Procinctu
Long

ICONic Divergence for ICX in RSI MACD Stoch

BINANCE:ICXUSD   ICON / US Dollar (calculated by TradingView)
Im playing an RSI divergence trade which has been working really well lately.

For more on this RSI strategy, please see the related link below... RSI and crypto trading.

Entry at 1.63

Stop at 1.41

Target at 2.16 OR
whichever happens first, the price when RSI reaches 60, OR the 100 MA.

If target approaches, and I can catch it, I will move stop trail it instead of exiting exactly at 2.16. While I know the risk, the target can fluctuate on these counter trend RSI trades.

This trade, if correct, will net about 2.4R

questions or comments, let me know. likes are appreciated.

Travis
JMJ - UIOGD
Comment: there is a similar setup on Siacoin SC
Comment: I should have listed as a caveat. On the 15 min, this set up would have executed and exhausted. as you can see, it surpassed the price associated with the first RSI low, also reached the 100MA, AND bounced 1.618x the move between the RSI divergence.
Trade active: Moving stop to 1.53

Comments



I just took this trade.
+1 Reply
@BatterT, yeah, good. i like my setup, but didnt like when i entered, nor how i moved the stop up. I ended up putting that capital in another coin. i ultimately will stop out of everything near where your stop is. but still think we get a bounce here. hope it works better for you.
Reply
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